PROG Holdings, Inc. (NYSE:PRG) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP reduced its position in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 89.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,608 shares of the company's stock after selling 40,773 shares during the period. GSA Capital Partners LLP's holdings in PROG were worth $223,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Whittier Trust Co. purchased a new position in PROG during the 3rd quarter worth approximately $26,000. Financial Management Professionals Inc. purchased a new position in shares of PROG during the 3rd quarter valued at approximately $33,000. GAMMA Investing LLC increased its holdings in shares of PROG by 72.0% during the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company's stock valued at $39,000 after purchasing an additional 337 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of PROG during the 2nd quarter valued at approximately $47,000. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of PROG during the 1st quarter valued at approximately $59,000. 97.92% of the stock is currently owned by institutional investors.

Insider Activity

In other PROG news, insider Michael Todd King sold 1,500 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $46.97, for a total value of $70,455.00. Following the completion of the transaction, the insider now owns 37,017 shares in the company, valued at approximately $1,738,688.49. This represents a 3.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Curtis Linn Doman sold 62,815 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $48.75, for a total value of $3,062,231.25. Following the completion of the transaction, the director now owns 174,524 shares of the company's stock, valued at $8,508,045. The trade was a 26.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,207 shares of company stock valued at $5,759,152. 2.74% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Loop Capital raised shares of PROG from a "hold" rating to a "buy" rating and lifted their price target for the company from $41.00 to $55.00 in a research note on Monday, August 19th. KeyCorp lifted their target price on shares of PROG from $46.00 to $55.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 10th. Stephens started coverage on shares of PROG in a research note on Wednesday, November 13th. They set an "overweight" rating and a $60.00 target price on the stock. Jefferies Financial Group boosted their price target on shares of PROG from $50.00 to $58.00 and gave the company a "buy" rating in a research report on Tuesday, October 1st. Finally, Raymond James upgraded shares of PROG from a "market perform" rating to an "outperform" rating and set a $48.00 price objective on the stock in a report on Thursday, October 24th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $53.83.

PROG Stock Up 2.7 %

Shares of PROG stock traded up $1.30 on Monday, reaching $48.73. 113,018 shares of the company were exchanged, compared to its average volume of 407,240. PROG Holdings, Inc. has a 1-year low of $26.39 and a 1-year high of $50.28. The company has a market cap of $2.02 billion, a P/E ratio of 13.14 and a beta of 2.11. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.97 and a quick ratio of 2.34. The stock's 50 day moving average price is $47.09 and its 200-day moving average price is $41.78.

PROG (NYSE:PRG - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.01. PROG had a return on equity of 24.56% and a net margin of 6.55%. The business had revenue of $606.10 million during the quarter, compared to the consensus estimate of $601.86 million. During the same period in the previous year, the company posted $0.90 earnings per share. The business's revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities analysts forecast that PROG Holdings, Inc. will post 3.35 EPS for the current year.

PROG Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Tuesday, November 19th. PROG's payout ratio is currently 13.30%.

About PROG

PROG Holdings, Inc NYSE: PRG is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.